Finovate Alumni News

On Finovate.com

  • Financial Identity as a Service Innovator Juvo Teams Up with DOCOMO Digital
  • SheerID Lands $64 Million for Segmented Identity Verification

Around the web

  • HackerOne awards $3,500 in bounties to a pair of researchers who discovered vulnerabilities on its own platform.
  • AlphaPoint adds support for margin trading to its platform.
  • Bank of Georgia goes live with a new smart personal financial management (PFM) solution, mBank, developed by Strands.
  • Installment payment solution Splitit announces a new partnership with chiliPAD sleep system maker, Chilli.
  • Tradeshift integrates with fraud protection specialist SiS-id to reduce payments fraud.
  • Xero launches Pay with TransferWise, a new domestic bill payment solution to help U.K. customers pay and manage bills.
  • Pendo Systems teams with WSN to help customers navigate digital transformation.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • BNP Paribas to Deploy Dynamic Hedging Tech from Kantox.
  • Terafina Teams Up with Alabama’s Listerhill Credit Union.

Around the web

  • Klarna deepens ties with H&M to enable customers to shop now and pay later using the H&M app.
  • NICE’s AML and fraud SaaS solutions to power financial crime strategy for both anti-money laundering compliance and enterprise fraud protections.
  • Terafina to power Listerhill Credit Union’s omnichannel sales strategy and continue its digital transformation to increase member satisfaction and deepen relationships.
  • OurCrowd expands U.S. operations, opens office in Chicago.
  • ID R&D’s IDLive Face to power remote customer account openings and digital ID verification for Innov8tif’s EMAS eKYC.
  • ndgit and Synpulse launch international fintech marketplace in Switzerland.
  • Macrosoft joins Quadient’s Partner Advantage Program.
  • Onfido reports strong revenue growth momentum for Q2 2019; earns recognition from The Sunday Times as one of the fastest growing private companies in the U.K.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Ping Identity Preps for $100 Million IPO.
  • ProfitStars Reaches 500 Bank and Credit Union Customers for Commercial Lending Solution.

Around the web

  • PYMNTS interviews  Bento for Business Co-Founder and CEO Farhan Ahmad.
  • OnPay partners with Xero to bring back-office services to the agricultural industry.
  • Innov8tif selects ID R&D’s Passive Facial Liveness for remote customer onboarding.
  • LoanScorecard to power new QuickQual loan solution from Angel Oak.
  • ACI Worldwide to help Massachusetts-based Nichols College enhance its payment processes.
  • Revolut bolsters executive ranks with appointment of new treasurer, deputy Chief Financial Officer, and director of financial crime risk.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ID R&D Unveils Passive Facial Liveness Detection

Biometrics startup ID R&D released IDLive Face this week. The new solution adds liveness detection to facial recognition technology in an entirely passive manner.

Facial recognition technology has been used in fintech and other verticals to authenticate users for years. And in order to prove that the user wasn’t spoofing their identity using a static photo, many technologies use liveness detection, which requires the user to perform a handful of actions such as blinking, smiling, and turning their head.

With IDLive Face, however, the liveness detection is invisible to the user since it runs in the background of the application. This not only makes a frictionless user experience, it also prevents fraudsters from learning how to spoof the technology.

“IDLive Face requires absolutely no actions from the end user,” said ID R&D CEO Alexey Khitrov. “Eliminating complexity in the user experience is one of the primary focus areas of our research… Armed with excellent real-world results, we are thrilled to offer businesses fully frictionless authentication that aligns with rigorous compliance requirements for onboarding and data management.”

The new technology leverages AI-based algorithms that process images in near real-time. IDLive Face doesn’t require the end user to have any special capture software and is available as an SDK and Docker container on Linux and Windows.

At FinovateFall 2018, Khitrov demoed SafeChat2.0, an application that passively verifies a user’s identity throughout the conversation (typing or speaking) without asking them to do anything special to authenticate themselves.

ID R&D offers authentication technologies that span the biometric spectrum. The company’s IDVoice is a standalone version of its core voice biometric capability,IDSquared is a tool that validates the user by capturing their face as they type their login credentials, and IDBehave is a behavioral biometrics solution that creates a unique biometric template for each user.

Finovate Alumni News

On Finovate.com

  • ID R&D Unveils Passive Facial Liveness Detection.
  • Finovate Global: Brazil’s NuBank Scores $400M; Poland Launches $737M Co-Investment Project.

Around the web

  • On Deck earns spot in Selling Power’s 50 Best Companies to Sell for in 2019 roster.
  • Mambu named a “Challenger” in Gartner’s 2019 Magic Quadrant for Global Retail Core Banking.
  • Data-in-use security specialist Enveil is honored at the FCA Global AML and Financial Crime TechSprints showcase.
  • The IDCo. makes the finalist list in the Affordability Assessment Solutions category of the Credit & Collections Technology Awards.
  • NuData Security wins Gold and Silver in the 14th Annual 2019 IT World Award in CIO of the Year, Company of the Year, and Women in Technology.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • AccountScore and Validis Bring the Benefits of Open Banking to U.K. SMEs.
  • Emailage and Featurespace Target Online Application Fraud.
  • Business Valuation Specialist BizEquity Teams Up with UBS.

Around the web

  • ID R&D launches facial liveness detection solution, IDLive Face.
  • Klarna and global fashion retailer ASOS to expand to the U.S.
  • Banking and payments solution provider Contis deploys Featurespace’s ARIC Fraud Hub.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ID R&D’s Voice Biometric Solution Satisfies Need for Speed, Omni-Channel Reach

Unveiled this week, the latest version of ID R&D’s voice solution, IDVoice, leverages AI and voice technology to give users a major boost in biometric matching speed and an enhanced, multi-channel onboarding and authentication process.

“As enterprises migrate to conversational interfaces through mobile, web, and call center applications, a strong cross-channel voice authentication capability is essential,” ID R&D Chief Science Officer Konstantin Simonchik said. “With IDVoice v2.7, we are making it much easier and more efficient for enterprises to deploy voice biometrics consistently on all channels using the programming tools they prefer.”

IDVoice enables enterprises to execute on their omni-channel voice biometric strategy, while avoiding the drawbacks common to many other voice biometric solutions. With IDVoice, for example, developers can account for different channels without requiring separate enrollments for each channel (i.e., mobile, web app, call center, etc.). This is made possible by the platform’s biometric engine architecture which is channel, language, and age variance agnostic, as well as being resistant to environmental noise.

Other enhancements to the technology improve its ability to detect voice activity and add a 10x speed improvement to a critical platform algorithm. Together these improvements ensure that IDVoice provides higher quality and faster onboarding and verification, saving time and improving the user experience. Opus Research founder and lead analyst Dan Miller referred to the technology as offering a “zero-effort authentication process (that is) fast becoming a necessity for businesses with customers who reach out across multiple devices and channels.”

The launch of the latest version of IDVoice comes just days after ID R&D announced that sound recognition technology specialist Wavio would integrate ID R&D’s AI and machine learning acoustic detection functionality into its sound recognition solution, SoundAI.

“Wavio was highly impressed when we tested ID R&D’s software, and after learning more about ID R&D’s deep research and knowledge of voice, audio processing, and the very latest in artificial intelligence methods, we were convinced that ID R&D is the right partner to help us fulfill our mission,” Wavio CEO Greyson Watkins said.

ID R&D demonstrated SafeChat, its frictionless, continuous authentication for remote logins and conversational interfaces, at FinovateFall 2018. The technology provides authentication by leveraging a combination of biometric inputs that are available through the normal interactions between users and the device. This enables the solution to verify the identity of users without requiring them to do anything specific to authenticate. ID R&D noted that the technology brings a biometrically-secured, Alexa-like experience to mobile, conversational, and IoT platforms.

Founded in 2016, ID R&D is headquartered in New York City. The company has raised $5.7 million in funding from investors including GSR Ventures and Gagarin Capital Partners. Alexey Khitrov is CEO.

Finovate Alumni News

On Finovate.com

  • ID R&D’s Voice Biometric Solution Satisfies Need for Speed, Omni-Channel Reach.
  • Finovate Global: Open Banking Advances in Nigeria; Singapore’s soCash Secures $6M Series B.
  • Paysend Garners $10.6 Million in Funding.

Around the web

  • PassTime partners with masterQueue to help locate and contact customers for debt collection.
  • Five Degrees is selected to join the Kickstart innovation program.
  • Voleo, Neener Analytics, Gremln Social, and Digital Onboarding all successfully complete 2019 FIS Fintech Accelerator program.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Lendio Acquires Billy, Launches Cloud Accounting Software.
  • Daon’s New Features Bring Two-in-One Approach to Onboarding, Authentication.
  • CrediVia Adds Multifamily Options to Financing Platform.

Around the web

  • Busey Bank selects Jack Henry’s SilverLake System to improve workflows and enhance digital capabilities.
  • SMArtX Advisory Solutions to power managed accounts for Independent Financial Partners.
  • Gaming rewards and marketing firm Refereum hires Hacker One for its new bug bounty cybersecurity campaign.
  • Onfido teams up with MoneyNetint to help the U.K.-based cross-border money transfer company expand its ability to verify customers.
  • Arkose Labs launches private bug bounty program with Bugcrowd.
  • Tesco For Business leverages Blackhawk for U.K. gift card program.
  • ID R&D ships new version of IDVoice that combines AI and voice technology to increase biometric matching speed and improve enrollment and authentication.
  • VERA names Bill Gadala Chief Financial Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Biometrics Tech Firm ID R&D Receives $5.7 Million in Funding

New York biometrics technology provider ID R&D has raised $5.7 million in Series A funding, reports Jane Connolly of Fintech Futures, Fintech’s sister publication.

The round was led by a new investor, GSR Ventures, with participation from an existing investor, Gagarin Capital. This is the New York-based company’s second investment; the first being a Seed round of an undisclosed amount raised in December of 2017.

The investment will be used to meet the increasing demand for its artificial intelligence (AI) based voice and behavioral solutions, along with voice and face anti-spoofing technologies. ID R&D will also be using it to add engineering staff and drive international sales.

“What we’ve consistently heard from our customers is that ID R&D’s technologies and solutions stand alone in offering a vastly simplified user experience that doesn’t sacrifice the security of authentication,” said ID R&D CEO, Alexey Khitrov.

The biometric tech provider aims to meet the demand from businesses for conversational interface (CI) and replace existing password and security question-based authentication processes with quicker, simpler voice and facial recognition solutions that require little or no involvement from the user.

The firm’s passive, anti-spoofing capabilities are designed to thwart fraudsters who attempt to access accounts using synthesized or recorded voices; or with photos, videos, or models of the real user’s face.

“With Grand View Research forecasting the speech and voice recognition market size to reach nearly $32 billion by 2025, businesses are racing to keep up with demand for authentication that works across multiple platforms and is as convenient as it is secure,” added Khitrov.

At FinovateFall 2018, Khitrov demoed SafeChat 2.0, an application that passively verifies a user’s identity throughout the conversation (typing or speaking) without asking a them to do anything special to authenticate themselves. In addition to SafeChat 2.0, the company offers IDVoice, a standalone version of ID R&D’s core voice biometric capability; IDSquared, a tool that validates the user by how they type their login credentials and by capturing their face at the same time; and IDBehave, a behavioral biometrics solution that creates a unique biometric template for each user.

ID R&D has seen rapid growth, doubling its sales contracts last year, growing its customer base by 25% in Q1 2019, doubling its staff, and opening a West Coast headquarters. The firm also added a major biometric integrator and a semiconductor company.